Regional Lender Reported Net Income of $88.3 Million

Zions Bancorp swung to a profit in the fourth quarter as the regional lender revealed more about its exposure to energy loans and continued to slash its exposure to CDOs, a type of investment that hurt the bank’s stress-test results last year.

Zions reported net income of $88.3 million, or 36 cents a share, compared with a year-earlier loss of $41.5 million, or 32 cents a share. Net income missed analysts’ expectations. Net revenue...